US and Allies Invest $81 Billion in First Wave of $380B Chip Race Against China

May 13, 2024, 04:15 AM

The United States and its allies, including the European Union, are investing approximately $81 billion to enhance semiconductor production, intensifying the technological rivalry with China. This investment is part of the first wave of nearly $380 billion planned to maintain technological leadership and secure semiconductor supremacy. The funds are aimed at supporting the next generation of chip technology, with significant allocations directed towards South Korean and Taiwanese semiconductor manufacturers. This strategic move is crucial in the ongoing global competition for technological dominance, particularly in fields like artificial intelligence.